The Turkish government has signed a $265 million natural gas dealwith Greece. The two sides have agreed to jointly construct a pipeline linking natural gas producers from the Caspian region with European Union (EU) states.

Last March, Turkey’s Petroleum Pipeline Corporation (Botas) and Greece’s Public Gas Corporation (DEPA) signed a memorandum of understanding (MoU) allowing for Turkey to export 500 million cubic tons of natural gas to Greece by 2005. Under the contract, 200 kilometers out of the 285-kilometer pipeline will be located on Turkish soil.

The pipeline will extend from Karacabey in western Turkey to Komotini in northeastern Greece. The pipeline could transport natural gas from Iran, Azerbaijan, Turkmenistan, Kazakstan and Uzbekistan to Europe. — (menareport.com)